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20121121
20121129
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CNBC 1
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CNBC
Nov 21, 2012 7:00pm EST
to bailout yet another housing agency. that's what it looks like. here now is steve maister managing partner at maister selig and fine. welcome back, steve. this is the federal housing administration, right? fha. they are short, you tell me, they are short $56 billion in reserves. that's to me, puts them on the edge. bankruptcy. >> that's right. there's no question as taxpayer bailout coming here. look, the government, obama administration just loves sub prime mortgages. this whole enterprise, this fha, is really a garner to of sub prime mortgages and taxpayers are going to pay big time larry. >> as though we haven't learned anything from $140 billion bailout of fanny and freddy. correct me if i'm wrong, but 40%, roughly, 40% of the loans that they insured just under the last year or two, have been sub prime loans. they haven't learned a thing. >> they haven't learned a thing. or maybe they just don't care. but yes, you're absolutely right. 40% sub prime loans. moreover what it is, is people who have gone through one, sometimes two foreclosures, bankruptcies and have razor thin down payments
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